Announcement of intention to increase Ossur hf.'s share capital
- Private placement commences today
The Board of Directors of Ossur agreed at a board meeting 29 October 2007 to
increase the Company's share capital through a private placement of new shares
to a limited number of institutional investors, representing an increase of up
to 10% of its total issued share capital. Ossur intends to apply for the new
shares to be admitted to trading on OMX Nordic Exchange Iceland hf. (“OMXI”).
The purpose of the offering is to strengthen the Company's capital structure
and expand the shareholder base.
The offering will be managed by Kaupthing Bank hf. (Kaupthing).
Summary of the private placement
• A private placement of new shares to a limited number of institutional
investors.
• Ossur intends to issue up to 38,059,553 new shares, representing up to
approximately 10% of its total issued shares.
• Subscriptions will be accepted today, 30 October 2007, and until 6 p.m. GMT
tomorrow, 31 October 2007, by Kaupthing's equity sales desk. However,
Kaupthing
and Ossur reserve the right to close the offering earlier in case of excess
demand for the new shares.
• Ossur will, in co-operation with Kaupthing, allocate the new shares at its
sole discretion and reserves the right to reject individual subscriptions, in
part or in full.
• The results of the private placement will be published no later than 8 p.m.
GMT on Wednesday 31 October 2007.
• Investors will be required to pay the purchase price of the new shares no
later than 4 p.m. GMT on Wednesday 7 November 2007.
• Ossur's board of directors will utilize its authorization to increase the
share capital, which was granted to the board by the Company's shareholders
at its annual general meeting on 24 February 2006, where the shareholders
further agreed to waive their pre-emptive rights to subscribe for any new
shares issued in respect of the increase.
• The new shares will be sold at a price in the range of ISK 101-103 per
share.
• The new shares are expected to be admitted to trading on OMXI no later than
on Monday 12 November 2007.
Further information:
Jon Sigurdsson, President & CEO, Ossur, tel. +354-515-1300
Thorolfur Jonsson, Managing Director, Investment Banking, Kaupthing, tel.
+354-444-6000
Frosti Reyr Runarsson, Head of Equity Sales, Capital Markets, Kaupthing, tel.
+354-444-6000